{"id":59737,"date":"2024-07-23T16:04:20","date_gmt":"2024-07-23T14:04:20","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/conflixis-releases-2024-open-payments-report-shedding-light-on-risk-in-financial-relationships-across-healthcare\/"},"modified":"2024-07-23T16:04:20","modified_gmt":"2024-07-23T14:04:20","slug":"conflixis-releases-2024-open-payments-report-shedding-light-on-risk-in-financial-relationships-across-healthcare","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/conflixis-releases-2024-open-payments-report-shedding-light-on-risk-in-financial-relationships-across-healthcare\/","title":{"rendered":"Conflixis Releases 2024 Open Payments Report Shedding Light on Risk in Financial Relationships Across Healthcare"},"content":{"rendered":"<div>\n<p class=\"bwalignc\">\n<i>Report finds industry-wide risk signal amidst noise of 85 million transactions, showcasing power of Conflixis\u2019 AI-enabled platform.<\/i><\/p>\n<p>DALLAS &amp; NEW YORK&#8211;(BUSINESS WIRE)&#8211;Conflixis, a new conflicts of interest risk management technology provider, today released its inaugural 2024 Open Payments Report, revealing critical insights into the financial relationships between healthcare providers and the pharmaceutical and medical device industries.<\/p>\n<p><a href=\"https:\/\/mms.businesswire.com\/media\/20240719587265\/en\/2190236\/5\/Group_369.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20240719587265\/en\/2190236\/22\/Group_369.jpg\"><\/a><br \/><a href=\"https:\/\/mms.businesswire.com\/media\/20240719587265\/en\/2190236\/5\/Group_369.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20240719587265\/en\/2190236\/21\/Group_369.jpg\"><\/a><\/p>\n<p>\nThe report uncovers patterns of potentially inappropriate remuneration and shows that although the Open Payments program has enhanced transparency, disclosure alone has not deterred healthcare companies from patterns of potentially inappropriate payments, many of which have in fact grown more common.<\/p>\n<p>\n\u201cOur goal with the Open Payments Report is not to spotlight headline-grabbing anecdotes, but rather to tell the larger story of how money moves between industry and providers,\u201d said Conflixis CEO Aaron Narva. \u201cIt\u2019s a call to action for stakeholders across the industry.\u201d<\/p>\n<p>\nSee recent coverage of Conflixis in the <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.wsj.com%2Farticles%2Ften-years-of-payment-disclosure-does-little-to-curtail-corporate-influence-over-doctors-89a6e226%3Fst%3Djnbb15lovem3ou6%26reflink%3Darticle_copyURL_share&amp;esheet=54096432&amp;newsitemid=20240719587265&amp;lan=en-US&amp;anchor=Wall+Street+Journal&amp;index=1&amp;md5=25558c18c6585455f26884db63106b5a\" rel=\"nofollow noopener\" shape=\"rect\">Wall Street Journal<\/a>.<\/p>\n<p>\nHigh Level Findings:<\/p>\n<p>\nMany payments appear to camouflage inappropriate remuneration, including irregular combinations of consulting engagements, speaking fees, promotional fees and in-kind payments for food and beverage.<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nIndustry guidelines about interactions with providers suggest that food and beverage payments be \u201cmodest\u201d and not part of an entertainment or recreational event, yet high dollar food and beverage payments and group events reached their highest levels ever in 2023.<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nDespite warnings from regulators that repeat payments for speaking engagements or for attendance of non-educational events constitute a red flag, there were over 6,600 instances in which a company made at least ten payments to a provider to participate in a non-educational or non-consulting event in 2023.<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nContrary to voluntary guidance (and some Anti-Kickback charges\/civil settlements) from the federal government that honoraria payments are \u201cgenerally reserved for a brief, one-time activity,\u201d repeat honoraria payments to the same provider reached more than $33 million in 2023.<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nDrug and device makers who fund researchers evaluating their medical technologies have also made $2.3 billion in parallel cash and in-kind payments to them since 2016, threatening the integrity of the scientific enterprise.<\/li>\n<\/ul>\n<p>\nUnderscoring the value of technology in effective risk management, Narva said: \u201cThe insights our technology has uncovered emphasize the importance of transparency and the critical role that data analysis plays in helping healthcare employers avoid the steep costs of conflicts.\u201d<\/p>\n<p>\nFor a copy of the report visit <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.conflixis.com%2Ftheopreport&amp;esheet=54096432&amp;newsitemid=20240719587265&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.conflixis.com%2Ftheopreport&amp;index=2&amp;md5=a1e3986d524a5a23b5b9dc832f49e3a2\" rel=\"nofollow noopener\" shape=\"rect\">https:\/\/www.conflixis.com\/theopreport<\/a>.<\/p>\n<p>\nCMS Open Payments Database<\/p>\n<p>\nThe Centers for Medicare and Medicaid Services (CMS) established the Open Payments program in 2013 to enhance transparency in financial relationships between healthcare providers and the pharmaceutical and medical device industries. The database contains detailed information on payments made to providers, including fees for consulting, speaking, and honoraria, as well as in-kind payments for food and beverage, travel, and lodging.<\/p>\n<p>\nAbout Conflixis<\/p>\n<p>\nConflixis is a conflict of interest risk management company that is changing the way organizations identify, manage and mitigate risk arising from conflicts of interest. Leveraging decades of experience in anti-corruption, anti-money laundering and fraud, Conflixis provides a sophisticated platform for identifying and managing the everyday impact of conflicts of interest. Our unique platform offers real-time, customized analysis of both internal data sets and the public record, enabling clients to go beyond the file and forget systems of the past.<\/p>\n<p>\nFor more information on the 2024 Open Payments Report or to learn about Conflixis\u2019 technology, please contact:<\/p>\n<p>\nJessica Francis<\/p>\n<p>\n<a target=\"_blank\" href=\"&#109;&#97;&#x69;l&#116;&#x6f;&#x3a;i&#110;&#x66;&#x6f;&#64;&#99;&#x6f;&#x6e;f&#108;&#x69;&#x78;i&#115;&#x2e;&#x63;o&#109;\" rel=\"nofollow noopener\" shape=\"rect\">&#x69;&#x6e;&#102;&#111;&#64;c&#x6f;&#x6e;&#x66;&#108;ix&#x69;&#x73;&#x2e;&#99;&#111;m<\/a><\/p>\n<p>\n<a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.conflixis.com&amp;esheet=54096432&amp;newsitemid=20240719587265&amp;lan=en-US&amp;anchor=www.conflixis.com&amp;index=3&amp;md5=8e6d9313dfe9852d6e1bd872f2e6e0ce\" rel=\"nofollow noopener\" shape=\"rect\">www.conflixis.com<\/a><\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\nConflixis<br \/>\n<br \/>Jessica Francis<br \/>\n<br \/><a target=\"_blank\" href=\"&#109;&#x61;&#105;&#x6c;&#116;&#x6f;&#58;&#x69;&#110;&#x66;&#111;&#x40;&#99;&#x6f;&#110;&#x66;&#108;&#x69;&#120;&#x69;&#115;&#x2e;&#99;&#x6f;&#109;\" rel=\"nofollow noopener\" shape=\"rect\">&#105;&#x6e;&#102;&#x6f;&#64;&#99;&#x6f;&#110;&#x66;l&#x69;x&#105;&#x73;&#46;&#x63;o&#x6d;<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Report finds industry-wide risk signal amidst noise of 85 million transactions, showcasing power of Conflixis\u2019 AI-enabled platform. DALLAS &amp; NEW YORK&#8211;(BUSINESS WIRE)&#8211;Conflixis, a new conflicts of interest risk management technology provider, today released its inaugural 2024 Open Payments Report, revealing critical insights into the financial relationships between healthcare providers and the pharmaceutical and medical device &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/conflixis-releases-2024-open-payments-report-shedding-light-on-risk-in-financial-relationships-across-healthcare\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-59737","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Conflixis Releases 2024 Open Payments Report Shedding Light on Risk in Financial Relationships Across Healthcare - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/conflixis-releases-2024-open-payments-report-shedding-light-on-risk-in-financial-relationships-across-healthcare\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Conflixis Releases 2024 Open Payments Report Shedding Light on Risk in Financial Relationships Across Healthcare - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"Report finds industry-wide risk signal amidst noise of 85 million transactions, showcasing power of Conflixis\u2019 AI-enabled platform. 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